'Cash Balance' Saves Millions,
Hides Pitfalls From Workers

By

Ellen E. Schultz and

Elizabeth MacDonald Staff Reporters of The Wall Street Journal

Updated Dec. 4, 1998 11:59 p.m. ET

Largely out of sight, an ingenious change in the way big companies structure their pension plans is saving them millions of dollars, with barely a peep of resistance. Unless they happen to have a Jim Bruggeman on their staff.

Sifting through his bills and junk mail one day last year, Mr. Bruggeman found the sort of notice most people look at but don't spend a lot of time on: His company was making some pension-plan changes.